EU Says INSTEX Operational

June 29, 2019

Publication: 

Financial Tribune

European leaders announced that the Instrument in Support of Trade Exchange (INSTEX) is now operational. INSTEX is designed to protect trade between Iran and the EU from U.S. sanctions by minimizing international cash flow and instead balancing transactions on each side internally. The program is working with an Iranian equivalent organization, the Special Trade and Finance Institute. In addition to the E3 (the United Kingdom, France, and Germany), other EU members are currently becoming INSTEX shareholders and European officials are open to the involvement of third party countries in the future.